SoFi Technologies (NASDAQ:SOFI) Stock Price Up 0.1% – Here’s Why

SoFi Technologies, Inc. (NASDAQ:SOFI) shares shot up 0.1% during mid-day trading on Tuesday . The company traded as high as $11.48 and last traded at $11.20. 22,987,374 shares changed hands during trading, a decline of 50% from the average session volume of 46,292,258 shares. The stock had previously closed at $11.18.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SOFI. JPMorgan Chase & Co. increased their price target on shares of SoFi Technologies from $9.00 to $16.00 and gave the company a “neutral” rating in a research report on Monday, December 2nd. UBS Group increased their target price on SoFi Technologies from $10.50 to $14.00 and gave the company a “neutral” rating in a report on Tuesday, January 28th. The Goldman Sachs Group boosted their price target on SoFi Technologies from $8.50 to $9.50 and gave the stock a “neutral” rating in a report on Tuesday, January 28th. Citigroup increased their price objective on SoFi Technologies from $12.50 to $18.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. Finally, Bank of America reissued an “underperform” rating and issued a $12.00 target price on shares of SoFi Technologies in a research note on Monday, December 9th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $12.50.

SoFi Technologies Trading Up 1.4 %

The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.18 and a current ratio of 0.49. The firm has a market capitalization of $12.43 billion, a price-to-earnings ratio of 30.57, a P/E/G ratio of 2.24 and a beta of 1.79. The business has a fifty day moving average price of $15.15 and a 200 day moving average price of $12.77.

SoFi Technologies (NASDAQ:SOFI) last posted its quarterly earnings results on Monday, January 27th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.01. SoFi Technologies had a return on equity of 3.82% and a net margin of 18.64%. During the same quarter in the prior year, the firm earned $0.04 earnings per share. As a group, equities analysts forecast that SoFi Technologies, Inc. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at SoFi Technologies

In related news, EVP Eric Schuppenhauer acquired 30,600 shares of SoFi Technologies stock in a transaction on Monday, December 16th. The shares were bought at an average price of $16.34 per share, for a total transaction of $500,004.00. Following the completion of the purchase, the executive vice president now directly owns 46,105 shares in the company, valued at $753,355.70. This trade represents a 197.36 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Bashir Ruzwana sold 52,000 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $16.02, for a total value of $833,040.00. Following the completion of the sale, the director now owns 25,937 shares of the company’s stock, valued at approximately $415,510.74. This trade represents a 66.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 144,004 shares of company stock valued at $2,292,100 over the last ninety days. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On SoFi Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of SOFI. Capital Performance Advisors LLP acquired a new position in shares of SoFi Technologies during the third quarter worth $27,000. Skandinaviska Enskilda Banken AB publ acquired a new position in SoFi Technologies in the 4th quarter worth $27,000. Brooklyn Investment Group acquired a new position in SoFi Technologies in the 3rd quarter worth $28,000. Hollencrest Capital Management purchased a new position in SoFi Technologies in the 4th quarter valued at about $31,000. Finally, Mpwm Advisory Solutions LLC acquired a new stake in shares of SoFi Technologies during the fourth quarter valued at about $32,000. 38.43% of the stock is owned by institutional investors and hedge funds.

SoFi Technologies Company Profile

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.